ARC Resources Ltd. (TSE:ARX - Get Free Report) reached a new 52-week high during trading on Monday . The company traded as high as C$27.63 and last traded at C$27.63, with a volume of 98436 shares changing hands. The stock had previously closed at C$26.93.
Analysts Set New Price Targets
Several equities research analysts have recently weighed in on ARX shares. UBS Group upped their price target on shares of ARC Resources from C$31.00 to C$33.00 in a research report on Monday, December 9th. Cormark upgraded ARC Resources to a "moderate buy" rating in a report on Monday, September 23rd. Canaccord Genuity Group lifted their price target on ARC Resources from C$29.00 to C$31.00 in a report on Thursday, November 7th. TD Securities boosted their price target on ARC Resources from C$30.00 to C$31.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Finally, Scotiabank lifted their target price on ARC Resources from C$34.00 to C$35.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Nine equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, ARC Resources has an average rating of "Buy" and a consensus target price of C$31.35.
Get Our Latest Research Report on ARX
ARC Resources Trading Up 1.1 %
The stock's fifty day simple moving average is C$25.06 and its 200-day simple moving average is C$24.41. The company has a debt-to-equity ratio of 31.49, a current ratio of 0.88 and a quick ratio of 0.42. The firm has a market cap of C$16.23 billion, a PE ratio of 14.10, a PEG ratio of 0.29 and a beta of 1.26.
ARC Resources Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.19 per share. This represents a $0.76 annualized dividend and a yield of 2.79%. This is an increase from ARC Resources's previous quarterly dividend of $0.17. ARC Resources's payout ratio is presently 35.23%.
Insider Transactions at ARC Resources
In related news, Senior Officer Sean Ross Allen Calder sold 30,572 shares of the firm's stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of C$27.10, for a total transaction of C$828,360.57. Company insiders own 0.40% of the company's stock.
About ARC Resources
(
Get Free Report)
ARC Resources Ltd. engages in the acquiring and developing crude oil, natural gas, condensate, and natural gas liquids in Canada. It primarily holds interests in the Montney basin located in Alberta and northeast British Columbia. ARC Resources Ltd. was founded in 1996 and is based in Calgary, Canada.
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